The battle over getting companies to bring back the trillions they have stashed overseas will get more heated in the coming months, though the end result may not mean a whole lot.
Corporations have more than $2 trillion in profits earned in foreign markets that not have not been brought back onshore because they would face a second round of taxation. (Goldman Sachs recently put the number at $2.5 trillion.)
While President Barack Obama has a plan on the table to deal with asset repatriation and the issue is a high priority for congressional Republicans, the probability for action is minimal, according to an analysis by Dubravko Lakos-Bujas and other strategists at JPMorgan Chase.
"We think the odds of a repatriation holiday being enacted are quite low," Lakos-Bujas said in a report for clients. "Even if one were to become law, theory and recent empirical evidence suggest it would have a minimal effect on the economic outlook."